Cheniere Energy misses by $1.02, beats on revs
- Reports Q2 (Jun) loss of $1.23 per share, $1.02 worse than the Capital IQ Consensus of ($0.21); revenues rose 601.1% year/year to $1.24 bln vs the $0.9 bln Capital IQ Consensus.
- Consolidated Adjusted EBITDA for the three and six months ended June 30, 2017 was $371 million and $854 million, respectively, compared to a loss of $4 million and $48 million for the comparable 2016 periods.
- "We are revising our 2017 guidance upward as our operating results year-to-date have exceeded our expectations, primarily due to LNG trains entering service ahead of schedule and the ramp-up in LNG production levels occurring faster than we'd forecast earlier this year. During the second half of 2017, our focus remains on bringing Train 4 at Sabine Pass online safely and efficiently, executing on our commercialization strategies, and delivering on our increased 2017 guidance."